NEW YORK (CNNfn) - Weak market conditions are forcing J.P Morgan Chase & Co. to cut as many as 3,000 more jobs, which would bring total job reductions to 8 percent of the company, a published report said Monday.

The Wall Street Journal interactive edition said J.P. Morgan will cut up to 8,000 jobs, up from previous estimates of 5,000 cuts, according to sources in the company.